OBS Multiplatform has alpha masking layers to allow you to do this. OBS Classic does not.
The 'classic' ways were the foamcore method mentioned above (which has the major down side of being a pain to match if you have a chroma backdrop) or using a cam-effect program to overlay a vignette of a solid color (matching your backdrop). Down side to the second method is that it increases CPU usage, and can add a delay.
If you don't mind the missing features (and frankly terrible UI) in MP, go with that. It's way simpler.